The Aussie share market is eyeing a 0.4% lift at the open following the 1.7% gain last week.
Today in Victoria, childcare centres reopen, primary schools return and the curfew is scraped, with 127,000 people allowed to return to work. Supermarkets, food distribution centres, abattoirs, seafood and meat processing plants also increase capacity, which is good news for the economy. While at the same time the JobKeeper payment reduces from $1,500 to $1,200 a fortnight.
What to watch today:
- Keep an eye on economic recovery stocks like banks, which saw a huge rally on Friday with Westpac (ASX:WBC) up over 7% and CommBank (ASX:CBA) up 3%, on reduced lending requirements that are likely to be revealed in tomorrow’s budget.
- A lot of property groups go ex-div tomorrow, like Centuria Industrial REIT (ASX:CIP), Charter Hall Long WALE REIT (ASX:CLW), Centuria Office REIT (ASX:COF) and Cromwell Property Group (ASX:CMW).
Local trading ideas:
- Smiggle, Just Jeans and Peter Alexander owner Premier Investments (ASX:PMV) was reiterated by Bell Potter as a buy with a bumped up price of $22, implying 16% growth from Friday’s close. UBS also reiterated PMV as a buy with a $20.50 target.
- Business tech platform, Technology One (ASX:TNE) was reiterated by Bell Potter as a buy with a $9.50 target, implying 20% upside from Friday’s close.
- Mortgage Choice (ASX:MOC), Asaleo Care (ASX:AHY) and SciDev (ASX:SDV) are all giving off bullish charting signals according to Trading Central.